What is the difference between a mineral deposit and reserve?

Mineral deposits are concentrations of minerals and geological materials of economic or potentially economic importance. Reserves refer to resources which are considered to be valuable and economically feasible for extraction.

What is a mineral reserve?

A Mineral Reserve is the economically mineable part of a Measured and/or Indicated Mineral Resource. This means that quantities converted to Mineral Reserve are removed from Mineral Resource.

What makes a mineral deposit a reserve?

“A Mineral Reserve is the economically mineable part of a Measured and/or Indicated Mineral Resource.

What is the difference between mineral resources and ore deposits?

Mineral Resources can be defined as the concentration of material of economic interest in or on the earth’s crust, whereas Ore Reserves are the parts of a Mineral Resource that can at present be economically mined.

What is the difference between a mineral resource and a mineral reserve quizlet?

Mineral resources are a concentration of minerals in Earth’s crust that can be extracted and processed now or in the future, and including unidentified sources. Mineral reserves are those that are identified and can be mined profitably under current economic conditions with current technology.

What’s the difference between mineral reserves and resources?

A resource is that amount of a geologic commodity that exists in both discovered and undiscovered deposits—by definition, then, a “best guess.” Reserves are that subgroup of a resource that have been discovered, have a known size, and can be extracted at a profit.

What is the difference between a resource and a reserve quizlet?

What is the difference between a resource and a reserve? A resource refers to any mineral concentration that has the potential to be extracted and sold for a profit, while a reserve actually has been identified and is economical.

What are reserves in science?

reserve. 1. (Science: geology) Typically used to describe the amount of a substance which can be extracted from the earth with current technology at current prices. Typically much smaller than resources.

What is the difference between a mineral resource and mineral reserve quizlet?

What is the difference between a resource and a reserve ‘?

What is the difference between resources and reserves in terms of a natural resource?

A natural resource is any natural material that is either useful or valuable, this can include: natural gas, crude oil, metal ores and water (i.e. ground water). A reserve is the amount of a resource that can be economically extracted using the existing technology.

What do you mean by resources and reserves?

Potential resources are the resources which are currently not in use. Reserve resources are those which we are not extracting them at present in spite of technological availability. They are stored to meet world’s future requirements.

What is the difference between a mineral reserve and mineral resource?

Some or all of the mineral resources may be sub-divided into inferred, indicated and measured categories by a qualified person. “A Mineral Reserve is the economically mineable part of a Measured and/or Indicated Mineral Resource.

What is a mineral deposit?

A mineral deposit/deposit is zone that has concentration of minerals of economic interest. There is confirmation of geological occurrence, continuity with approximation of tonnage and grade.

What is the value of an ore deposit?

An ore deposit is a mineral deposit that has an economic value as well as a scientific value. There are times when you can actually have a very large mineral deposit worth millions of dollars, but because of its location or the cost of production to mineral deposit is not classified as ore.

How do I document a mineral reserve?

A mineral reserve must be documented by at least one preliminary feasibility study, conducted during the “deposit appraisal” phase in the mineral development process.